RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of December 26, 2016 No. 312

About approval of Rules of management of stabilization bank, the conclusions of transactions concerning which making special conditions, carrying out transaction on transfer of assets and obligations of insolvent bank to stabilization bank, transfers of assets and liabilities by stabilization bank to other bank determined by authorized body are established

According to the Law of the Republic of Kazakhstan of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Rules of management of stabilization bank, the conclusions of transactions concerning which making special conditions, carrying out transaction on transfer of assets and obligations of insolvent bank to stabilization bank, transfers of assets and liabilities by stabilization bank to other bank determined by authorized body are established.

2. Recognize invalid regulatory legal acts of the Republic of Kazakhstan, and also structural elements of some regulatory legal acts of the Republic of Kazakhstan according to the list according to appendix to this resolution.

3. To department of methodology of the financial market (Abdrakhmanov N. A.) in the procedure established by the legislation of the Republic of Kazakhstan to provide:

1) together with Legal department (Sarsenov N. V.) state registration of this resolution in the Ministry of Justice of the Republic of Kazakhstan;

2) the direction of this resolution in the republican state company on the right of economic maintaining "The republican center of legal information of the Ministry of Justice of the Republic of Kazakhstan" for inclusion in the State register of regulatory legal acts of the Republic of Kazakhstan, Reference control bank of regulatory legal acts of the Republic of Kazakhstan within ten calendar days from the date of its state registration in the Ministry of Justice of the Republic of Kazakhstan;

3) placement of this resolution on official Internet resource of National Bank of the Republic of Kazakhstan after its official publication.

4. To management on consumer protection of financial services and external communications (Terentyev A. L.) provide the direction of this resolution on official publication in periodic printing editions within ten calendar days after its state registration in the Ministry of Justice of the Republic of Kazakhstan.

5. To impose control of execution of this resolution on the vice-chairman of National Bank of the Republic of Kazakhstan Smolyakov O. A.

6. This resolution becomes effective after ten calendar days after day of its first official publication.

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of December 26, 2016 No. 312

Rules of management of stabilization bank, the conclusions of transactions concerning which making special conditions, carrying out transaction on transfer of assets and obligations of insolvent bank to stabilization bank, transfers of assets and liabilities by stabilization bank to other bank determined by authorized body are established

Chapter 1. General provisions

1. These rules of management of stabilization bank, the conclusions of transactions concerning which making special conditions are established of carrying out transaction on transfer of assets and obligations of insolvent bank to stabilization bank, transfers of assets and liabilities by stabilization bank to other bank determined by authorized body (further - Rules) are developed according to the Law of the Republic of Kazakhstan of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan" (further - the Law on banks) and determine procedure for management of stabilization bank, the conclusions of transactions, concerning which making special conditions, conditions and procedure for carrying out transaction on transfer of assets and obligations of insolvent bank are established (further - bank), to stabilization bank, transfers of assets and liabilities by stabilization bank to other bank (further - bank acquirer) determined by authorized body by regulation to control and supervision of the financial market and the financial organizations (further - authorized body).

2. The temporary administration on bank management (the interim manager bank) addresses to authorized body for carrying out transaction on transfer of assets and obligations of bank to stabilization bank, including in case of impossibility of implementation of transaction on simultaneous transfer of assets and obligations of bank in part or the complete size to another (another) to bank (banks).

3. The temporary administration on bank management (the interim manager bank) carries out assessment of assets and develops the plan of activities of stabilization bank.

Chapter 2. Rules of management of stabilization bank, the conclusions of transactions concerning which making special conditions are established

4. The stabilization bank performs the activities according to the plan of activities of stabilization bank which contains the following information:

1) share of credit portfolio of bank in cumulative loans of bank system, share of the deposits attracted with bank in cumulative deposits of banks of the second level;

2) description and data on assessment of all assets and liabilities of stabilization bank;

3) description and size of highly liquid assets and liabilities poste restante;

4) procedure and conditions of asset management and obligations of stabilization bank, including by return (exchange) of assets and (or) return of obligations, in case of decrease in level of assets;

5) conditions and procedure for implementation of shares or sale (transfer) of assets (obligations) to bank acquirer;

6) expense budget of stabilization bank and the financial forecast of activities of stabilization bank which include:

the balance sheet for date of creation of stabilization bank constituted on the basis of data of bank as of the last reporting date;

the balance estimation for date of completion of activities of stabilization bank, the budgeted profit and loss statement, the forecast cash flow statement.

5. Tasks of stabilization bank are:

1) implementation of transaction on transfer of assets and obligations of stabilization bank to other bank acquirer;

2) realization to the investor of shares of stabilization bank on the conditions guaranteeing increase in equity of stabilization bank and its functioning according to requirements of the bank law of the Republic of Kazakhstan.

6. Functions of stabilization bank are:

1) asset management and obligations of stabilization bank, including ensuring availability of assets in the amount of sufficient for covering of risks on assets and obligation fulfillments, availability of obligations at the level which is not exceeding assets of stabilization bank;

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